June 29, 2021
Vancouver, British Columbia – June 29th, 2021 – Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634-FF) is pleased to announce that Phase I drilling has been completed at the Schooner Prospect, (“Schooner”) and that Phase I drilling is to start immediately at the Quinlan Veins Prospect (the “QV Prospect”), located at Exploits’ Dog Bay Project (the”Project”) in the Exploits Subzone Gold Belt, Newfoundland.
- Phase I drilling at Schooner has been successfully completed for a total of 2,400m in 7 drill holes.
- Schooner drilling successfully intersected the primary and secondary structures defined through geophysical targeting by GoldSpot Discoveries.
- Core logging and sampling of the Schooner drilling is underway and expected to be completed shortly, with initial assay results expected in six to eight weeks.
- Phase I diamond drilling has commenced at the QV Prospect for a planned total of 2,400m over nine holes, with a Phase II program planned on receipt and analysis of Phase I program results.
- The QV Prospect drilling program’s initial focus is to test a visible gold (up to 61 g/t Au) bearing secondary fault associated with the Appleton Fault and Dog Bay Line. The fault is a known gold bearing, deep seated fault that is closely associated with the secondary faults that host New Found Gold’s Keats, Lotto and Knob Zone gold discoveries.
- Preparation work on the QV Prospect has exposed the veins across 200m of strike length to the south, with mapping and sampling still ongoing.
William M. Sheriff, Interim President & Chief Executive Officer of Exploits, commented: “We are really pleased with the drill core we are seeing at Schooner and are looking forward to getting assay results, and returning for a Phase II program there later this summer. Quinlan Veins is one of our highest priority targets, with high grade visible gold outcropping at surface. We look forward to testing multiple intersecting structures at Quinlan, a number of which have visible gold in outcrop. This is only the second of five permitted targets we have slated for drilling along prominent structures in Newfoundland during the current campaign.”
About the Quinlan Veins Prospect
The Quinlan Veins Prospect is located on a secondary structure splaying off the Appleton Fault Zone. There are multiple 50-70 centimetre-wide quartz veins over a 25m wide zone, currently exposed 5-20 metres in strike before diving under overburden. Visible gold was discovered as fine grains in crack seal fractures and as fine to coarse grains in the quartz veins. Trace sulphide mineralization is also present in the quartz veins as pyrite, chalcopyrite, galena, and sphalerite. The veins are milky white with sections of vuggy and crack seal textures, which are typical of epizonal, orogenic gold deposits. Structurally, the veins are situated within secondary fault structures, associated with the Appleton Fault zone, that were highlighted by GoldSpot Discoveries’ (TSX.V: SPOT) geophysical analysis. 57 samples from outcrop and subcrop at the Quinlan Veins were taken. Five samples, one with visible gold (VG), returned assays of 61.3, 59.0, 14.4, 14.2, and 12.6 g/t Au, with 26 total samples assaying over 0.1 g/t Au with an average grade of 7.3 g/t Au.
Map of Drilling Locations at the Quinlan Veins Prospect
The Quinlan Veins are located with one of a series of claims optioned from from Eddie and Roland Quinlan, (the “Quinlan Option”), on August 20, 2020 where Exploits can earn a 100% interest by paying or issuing property by paying an aggregate of $220,000 cash and issuing a further 2.5 million common shares and $560,000 in either cash or common shares. There is a 2% royalty on the Quinlan claims, 1% can be repurchased for $4,000,000.